[Loc22]

I have been in the Payment industry for 8 years & have also been a well sort after executive regionally. I think Banks can help save BlackBerry's hardware & BBM divisions.

Here's how:

1. BlackBerry needs to make use of the NFC chips & develop an app that is certified by both Visa & Mastercard international for their contactless payments.

2. Approach the banks to issue their cards for only mobile payments. This would save the banks a minimum of USD 4 for each card issued.

3. When the banks issues a credit card or debit card to their customers they just need glympse download an app that is encrypted using the same protocol as required by both Visa & Mastercard for transactions.

4. Work with the banks to use #BBMmoney to pay for transactions if the merchant or establishment does not accept contactless payments or if contactless payments fails.

So customers who sign up for these cards have an option to purchase a BlackBerry device running on either BlackBerry 10 or Android OS and pay for it over a 12 months instalment plan. This would earn money for both BlackBerry & the banks at the same time.

When the customer use the card to make purchases it will also earn money for the banks.

Then when this catches on, BlackBerry will just have to spruce up the BBM Channels to cater for businesses to be able to sell things via BBM money. This would in turn earn money for BlackBerry for using BBM money to make payment.

As far as I understand, BlackBerry already have the infrastructures to support these initiatives but they are not being used. Reason being BBM is using the same protocol for transactions as any Visa or Mastercard. These just need some minor customisation to suit each bank & cushion.

What do you guys think?

Posted via CB10

[Bla1ze]

I think despite your 8 years in the payment industry, you have an overly simplistic view of how this would all work. Apple and Google can't even get the likes of Visa and MasterCard all on the same page in the various regions, you think BlackBerry can? That doesn't even begin to address the regulatory factors, various bank factors, regional factors and sooo soooo much more. That's part of why BBM Money progress is slow. You don't just hop in and take over. Once you begin playing with people's money, you're in a whole different ball game.

[Loc22]

Thanks for the reply B1aze.

Don't get me wrong here, the reason I believe that Apple Pay & Google play failed is because they are trying to market their own brand of payment which does not go down well with both Visa & Mastercard. The reason is Visa & Mastercard only have their brands to market so they will see Apple Pay & Google pay as a competitor.

BlackBerry doesn't have to market a BlackBerry pay, they just need to provide a solution & let Visa & Mastercard market it as their product. BlackBerry just have got provide the solution.

Between the two, I woke suggest Mastercard as they are more open to new ideas like these. The most important thing is to allow them to have the bulk of the revenue derived from this. BlackBerry just need to concentrate on it's core business of selling devises.

In terms of #BBMmoney they have to simplify it further by just allowing the user scan a QR code on the credit card terminal to make the payment.

There will be plenty of work to be done for this but I think it is very possible.

Posted via CB10

[conite]

Why in the world would any of these companies want to spend money to team up with BlackBerry? For the 0.3% market share?

[app_Developer]

To do this globally is simply not feasible given the size of BB's market share. This would be too much investment from the networks, the issuers, and BB itself for the small number of actual transactions that would result.

On the other hand, this might work in certain countries like Canada and Indonesia where BB has more market share, or at least mindshare. But they already did this in Indonesia and it apparently failed to get traction there. And in Canada, they already have solutions for a couple very popular Canadian banks. I would ask how are those going?

[Loc22]

To do this globally is simply not feasible given the size of BB's market share. This would be too much investment from the networks, the issuers, and BB itself for the small number of actual transactions that would result.

On the other hand, this might work in certain countries like Canada and Indonesia where BB has more market share, or at least mindshare. But they already did this in Indonesia and it apparently failed to get traction there. And in Canada, they already have solutions for a couple very popular Canadian banks. I would ask how are those going?

The main objective to doing this is to get the banks to sell BlackBerry phones for BlackBerry as they have no more Channels to sell the phones. This is to increase market share of the device with a specific use case.

The devises sold would bring immediate income and loyalty to the bank and BlackBerry at the same time. This is also done at a relatively low cost to BlackBerry.

Posted via CB10

[Loc22]

Why in the world would any of these companies want to spend money to team up with BlackBerry? For the 0.3% market share?

It wouldn't matter what BlackBerry's market share is, they would only want the business and the guaranteed income that they would get if they do so.

Posted via CB10

[togarika]

Why in the world would any of these companies want to spend money to team up with BlackBerry? For the 0.3% market share?

For BlackBerry's security. I don't think banks would want to put their customers at risk of losing their money.

BlackBerry BB10 forever

[BBZ10wannabe]

It's too late for Canada. RBC Canada's largest bank, already has a mobile wallet that allows tap to pay for Android. I hear Apple pay has also signed 3 of the biggest banks as well this week.

[conite]

For BlackBerry's security. I don't think banks would want to put their customers at risk of losing their money.

BlackBerry BB10 forever

What specific security measure are you referring to?

[conite]

It wouldn't matter what BlackBerry's market share is, they would only want the business and the guaranteed income that they would get if they do so.

Posted via CB10

Why not develop for a platform that has over a billion users worldwide instead?

[togarika]

What specific security measure are you referring to?

After a number of customers lose their money, security will become a concern and we will get to learn whether or not BlackBerrys are secure.

BlackBerry BB10 forever

[kvndoom]

The main objective to doing this is to get the banks to sell BlackBerry phones for BlackBerry as they have no more Channels to sell the phones. This is to increase market share of the device with a specific use

Tip your waiter! We'll be here all week!

[conite]

After a number of customers lose their money, security will become a concern and we will get to learn whether or not BlackBerrys are secure.

BlackBerry BB10 forever

I'm asking you what security feature you feel would help over iOS or Android. What threat are you securing yourself from?

[kvndoom]

After a number of customers lose their money, security will become a concern and we will get to learn whether or not BlackBerrys are secure.

BlackBerry BB10 forever

People are getting scammed out of their money on their phones every single day. Celebrities got their iphones hack and nude images were leaked. Social media and search companies sell private data like it was candy. There is no privacy, there is no security... And people STILL aren't buying Blackberry's.

[conite]

People are getting scammed out of their money on their phones every single day. Celebrities got their iphones hack and nude images were leaked. Social media and search companies sell private data like it was candy. There is no privacy, there is no security... And people STILL aren't buying Blackberry's.

And none of that had anything to do with the brand of smartphone they were using. That was due to weak passwords on their cloud storage accounts.

[Ronindan]

People are getting scammed out of their money on their phones every single day. Celebrities got their iphones hack and nude images were leaked. Social media and search companies sell private data like it was candy. There is no privacy, there is no security... And people STILL aren't buying Blackberry's.

Maybe just maybe whatever bb is peddling is not attractive to consumers and business people. ;-)

[app_Developer]

The main objective to doing this is to get the banks to sell BlackBerry phones for BlackBerry as they have no more Channels to sell the phones. This is to increase market share of the device with a specific use case.

The devises sold would bring immediate income and loyalty to the bank and BlackBerry at the same time. This is also done at a relatively low cost to BlackBerry.

But what does the bank get out of this? If we wanted to finance customer's phones, we could finance their iPhones and Samsung phones. Why would a bank need to invest in an integration with BB10 for this?

[kvndoom]

And none of that had anything to do with the brand of smartphone they were using. That was due to weak passwords on their cloud storage accounts.

True, but there are so many unpatched and outdated Android phones out there that are really easy targets. Those folks either don't know or they don't care.

[kvndoom]

Maybe just maybe whatever bb is peddling is not attractive to consumers and business people. ;-)

There hasn't been a widespread enough attack on old Android phones to get people to care about security. I remember the kind of craziness the public had to endure with Internet Explorer and its activeX garbage before better options started showing up. Ironically, MS itself didn't do much to improve its product until Firefox and Chrome started eating away its monopoly.

[conite]

True, but there are so many unpatched and outdated Android phones out there that are really easy targets. Those folks either don't know or they don't care.

And the BB10 browser is so long in the tooth that it allows unsecured connections. Pick your poison.

[Troy Tiscareno]

But what does the bank get out of this? If we wanted to finance customer's phones, we could finance their iPhones and Samsung phones. Why would a bank need to invest in an integration with BB10 for this?

Because... reasons!

BB4ever!

[Jack Chin]

Yes, if BlackBerry could get the banks to begin 'uploading' money into BlackBerry's account, that would indeed save the company.

Posted via CB10

[Loc22]

But what does the bank get out of this? If we wanted to finance customer's phones, we could finance their iPhones and Samsung phones. Why would a bank need to invest in an integration with BB10 for this?

The bank will get :
- merchant discount rate which is a percentage of the selling price to finance the purchase of the BlackBerry Priv or maybe Passport

- interest earned on revolving of the credit given

- late payment charges, in certain countries this is as high as 24%

- cheap customer loyalty programme to lock the customer in with them for another year or two depending on how many months they are offering an interest free instalment payment scheme.

- if they tie up with a telco they will charge the monthly telephone bill to the card and there is additional fees earned by the bank too.

Integration fee from the bank? In actual fact there is none as there is no necessity to do so. They will probably just charge a certification fee for testing the contactless payments. This is something they will do for every new card product released anyway. This I would suggest BlackBerry to take it up to speed up the process & negotiations.

There is no need for the bank to work with Samsung nor Apple on this as they will see this as a waste of effort. On the contrary it would really help BlackBerry.

Posted via CB10

[keliew]

Mobile payment requires a good and mature ecosystem.

Alipay, Weixin and even Baidu outperforms because they have that ecosystem that encourages mobile payment. Banks are no where unless they sign on with retailers and brokers. Alipay for instance don't need that, they have a whole range of online shops that becomes the enabler.

Truth be told, the Chinese got it down.

BlackBerry Passport via CB10